Los Angeles daily herald., 1887-09-03
DAILY HERALD.
THE HOTEL.
To Go On the st. Vincent
Property, Seventh st.
AN INTERESTING MEETING.
A Hotel Also to Be Built on the
Corner of Tenth and Main
Streets.


Corner of Tenth and Main
Streets.
About seventy of the subscribers
and fully fifty other interested parties
met at the G. A. r. Hall on Main
street yesterday afternoon, to take ac-
ton in relation to the selection OF a
site for the building of hotel to cost
at least four hundred thousand dollars.
The meeting was called to order short
ly after 2 o'clock by Chairman G. E.
Day who called upon Henry 7. Hazard,
chairman of the special committee on
organization, for his report.
Mr.. Hazard then handed to Secre-
tary Hervey Lindley articles Of incor-
poration, which had been drawn up
and which were read. They were
substantially as follows:
"Know all men by these presents,
that we, the undersigned, have this
day voluntarily associated ourselves
together for the purpose of forming a
corporation under the laws of Califor-
MIA, and we hereby certify-First, That
the name of the said corporation is
"The Los Angeles Hotel Company"
Second, That the purpose for which
it is formed is to acquire suitable land
in the city of Los Angeles, by pur-
chase or otherwise, on which to erect
q hotel to cost not less than four hum
dred thousand dollars. Third, that
the place where its principal place of
business shall be transacted is the
city of Los Angeles, county of Los
Angeles and State of California.
Fourth, that the term for which it is
to exist is fifty years from and after
the date of its incorporation. Fifth,
that the number of its directors shall
be seven. Sixth, That the amount
of the capital stock of said
company shall be 100000, divided
in 5000 shares of the par value
of 500 each; that of this
amount of stock $3.50, ,250 has been
already subscribed.
Judge Gottschalk moved that the
GOIlblutIdblOA tliC dDON0 lO RObt-
poned until after the various proposals
had been read, on the ground that the
original 100 subscribers would have
no voice in the selection after the Di-
rectOrs had been selected.
After short discussion the motion
was carried.
Chairman Day then opened the pro.
posals for sites received, and read
them as follows:
From &. w. Morgan-Offering a
tract of acres in the Highland View
tract for $50 900, and stating that if the
site was selected, to sell Immediately
10 acres and put into the building o.
the hotel one half of the proceeds o.
such sale.
From p. Beaudry-Offeri as fol
lows: For $40, 900, payable one-quar
ter cash, one-quarter in six, twelve
and eighteen months, with 10 pei
cent. interest per annum, and will
take stock in the enterprise to the ex-
tent of $4,000, lots to IA, inclusive,
each 50x150 feet, fronting on Custer
avenue, and lots 81 to 80, inclusive,
each 50x150 feet, fronting on Centen-
nial avenue, making 360x400 feet of
land, perfectly level, and lying in that
nice valley between Victor avenue on
the west and the east range of lots on
Centennial avenue, Temple street on
the south and Bellevue avenue.
From W. H. Toler, offering 1S0 feet
ON Grand avenue by 1S0 feet on Bun
ker Hill avenue and 145 feet on Sec
ond street for $75 900, and take $25 900
in stock. Major Toler would take
$125, 900 and would furnish the ground
and build house of 300 rooms.
From Geo. w. Frink, Offering five
pieces of land in the Wolfskill tract,
valued at $45, $50, $23,375, $45, 800,
SIS, 800 and $50 900 respectively, free
that is to say, would take the entire
purchase price in hotel stock.
From S. G. Foy, offering to sell a
lot 227x227 ON the corner of Pearl and
Seventh streets for 100000.
From James H. Blanchard, offering
the property known as block 5, of the
Woolen Mill tract. Said property is
situated within one-half mile of Spring
street between First and Second streets.
1t has frontage of $50 feet on Beau
dry street, by $50 feet on Second street.
Advantages: First, its proximity to
the famous center; second, its position
between two cable roads; third, it is a
whole block and can be used to the
best advantage. Terms, 800, 1000,
contribution to assist the enterprise
and benefit Of property in the vicinity,
$4,000.
From w. ID. Gould offering block 10
of the Woolen Mill tract on Figueroa
street and fronting 600 feet on Canal
street, 671 feet on rigueroa street, and
bordered by Figueroa street on the
west, Ida street on the north, Canal
street on the east, and Emma street
on the south. Price, 100000, out of
which he will donate $4,000 toward
the erection of the hotel and the inn
proyement on the grounds.
From Messrs. Hammel & Denker ct
al, as follows:
II the committee will subscribe to
or take stock in the corporation to be
formed for the erection of an hotel on
the corner of Main and Tenth streets
to the amount of 100000, the said
residents and property-holders will
furnish the said hotel:
First-That tract of land of uniform
width and depth fronting 800 feet on
both Main and Los Angeles streets,
and extending along Tenth street from
Main to Los Angeles.
Second That tract of land of uni
form width and depth, opposite the
first described tract, OH the easterly
side of Los Angeles street, with &
width of 100 feet and depth of 15(
feet.
Said two tracts TO be valued at $3.50,
600, and to be taken in stock of sale
corporation in the amount of $150, 900
Third-The sum of 1882 800, with
the lot valued at $150,000, tota
4Eo0 6OQ To be taken in stock in saif